Binance Released New Proof of Reserve Report: Here’s What Altcoins It Holds and Its Clients’ Altcoin Holdings

Binance, the world’s largest cryptocurrency exchange, published its 17th Proof of Reserves report. The report shows a significant increase in user assets across various cryptocurrencies.

Bitcoin assets of users on the exchange have increased by 1.08% since March 1, reaching a total of 568,000 BTC. This represents an increase of 6,099 BTC. The ratio of customer net BTC balances to Binance net balances was 104.46%.

Users’ ETH holdings increased significantly by 11.64%, reaching a total of 4.44 million ETH.

Users’ USDT holdings increased by 8.36%, reaching a total of 21.1 billion USDT. The ratio of Binance net balances to customer net balances was 113.90%.

Binance’s current total reserve assets reached a staggering 117.1 billion, with a net inflow of 3.9 billion compared to a month ago.

However, it was also noted that there was a significant increase of 19.25% in the exchange’s BNB assets compared to last month.

In addition, the exchange holds 41.8 million BNB, 31.95 million SOL, 2.14 billion FDUSD, 3.21 billion XRP, 1.8 billion USDC, 102 million TUSD, 14 billion DOGE in dollar terms, listed from largest to smallest.

According to the report, the total amount held by the exchange in all other altcoins was recorded as more than the assets held by customers in the exchange. Proof of Reserves reports began to be carried out after it was revealed that the currently bankrupt cryptocurrency exchange FTX was using customer assets in risky investments.

*This is not investment advice.